Two foreign nationals remain in custody today after being rescued from the boat, which was sailing from Castletownbere in West Cork to Devon in England.
Gardaí say they will not comment on a live operation - however, it's reported a major search is ongoing to recover any drugs that went overboard when the vessel struck a sandbank during bad weather.
Journalist with the Wexford People, Pádraig Byrne says Gardaí and the Naval Service were monitoring the trawler before it ran aground
"In some ways I would imagine maybe the heavy weather and the fact that the trawler ran around maybe scuppered the operation somewhat because if they were tracking these lads maybe there was more they were hoping to find out but look, I guess if if they managed to recover these drugs and if the figures are accurate that are being reported of around 140 million, that's a good day's work as well you know"