NYK, MOL and “K” Line, which make up the Ocean Network Express, completed an aggregate investment of $3 billion into the container shipping joint venture, which commenced operations on Sunday.

Lars Jensen, chief executive officer of Seaintelligence Consulting, said that although consolidation among the largest carriers is likely coming to an end, smaller, niche carriers are just getting started.

Ocean Network Express (ONE), which brings together the container shipping divisions of Japanese ocean carriers NYK Line, MOL and “K” Line, will begin accepting bookings in stages starting Feb. 1, 2018.

Japan’s “Big 3” ocean carriers are scheduled to set sail as a single joint venture shipping company in April, dubbed the Ocean Network Express.

The new joint venture company between Japan’s “Big 3” shipping lines is slated to commence operations April 1, operating as the sixth largest entity in the container shipping market.