Houston-based Kirby Corporation (NYSE: KEX) introduced an settlement Wednesday to buy the inland tank barge fleet of SEACOR Holdings for $88 million in money.

The buy will include 27 inland 30,000 barrel tank barges and 13 inland towboats, plus one 30,000 barrel tank barge and one towboat at present beneath building. Also a part of the settlement, Kirby will switch to Seacor the possession of 1 Florida-based ship docking tugboat.

Seacor, by means of its subsidiary SCF Waxler Marine LLC, transports refined petroleum merchandise, petrochemicals and black oil on the Mississippi River System and Gulf Intracoastal Waterway.

“The purchase of the Seacor inland tank barge and towboat fleet further expands our inland marine fleet with well-maintained and recently constructed vessels,” commented David Grzebinski, Kirby’s President and Chief Executive Officer. “Operating primarily in the refined products trade, these assets will be complementary to our existing fleet and will allow us to continue to enhance customer service.”

Kirby Corporation, based mostly in Houston, Texas, is the nation’s largest home tank barge operator, transporting bulk liquid merchandise all through the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise alongside all three coasts and in Alaska and Hawaii.

The closing of the asset buy is anticipated to happen early within the second quarter of 2016 and is anticipated to be paid for utilizing funds out there beneath Kirby’s revolving credit score facility.