'It is very definitely at risk at the moment'
The five crew of the Dillon Owen, from County Cork, were rescued and are unharmed after it got into difficulties at 05:00 BST on Wednesday.
An effort to refloat the vessel failed due to poor weather, according to the owners of Ardglass Harbour.
Kevin Quigley, from the NI Fishery Harbour Authority, said the boat ran aground on its way into the harbour.