BOSTON — A new low-cost bus line began offering service between Boston and New York City yesterday, less than a month after federal authorities, citing safety concerns, shut down the Fung Wah line, which had operated buses on the same route.

The new bus service, YO!, is jointly operated by Greyhound and Peter Pan Bus Lines, “two of the safest motorcoach operators in the country,” YO! said in an earlier statement.

The line will run six round-trip buses a day between Boston’s South Station and Manhattan’s Chinatown. Fares will start at about $15, according to the company’s Web site.