A U.S. shipyard is trying to establish what it expects will be a new company that starts shipping cargo between Hawaii and the West Coast three years from now in a bid to compete in a market served by just two ocean cargo carriers.

Philadelphia-based Philly Shipyard Inc. announced today that it is in “advanced discussions” with a “major U.S. shipping operator” to establish a new competitor to Matson Inc. and Pasha Hawaii.

The shipyard through a spokesman declined to name the operator, but said is beginning initial work to start construction on up to four ships that could be delivered in 2020 and 2021.