The President, Mary McAleese, has said she is saddened by the tragedy that has unfolded in Dunmore East in the wake of the sinking of two trawlers this week.
Mrs McAleese expressed her sorrow at what she called the "terrible toll" the recent weather conditions had inflicted on the country's seafaring communities.
In a statement, Mrs McAleese said: "Our thoughts and prayers are with those families still awaiting news of those still missing".
Commending the work of the rescue services, who she said had made "every effort in appalling weather conditions" to save the lives of the nine trawlermen, the President said the survival of at least two fishermen was "good news" and to the services' credit.
The Labour Party has described the sinking of the Honeydewand the Pere Charlesas "one of the blackest weeks in the history of the Irish fishing industry".
Party spokesman on the Marine, Tommy Broughan said the loss of seven fishermen, as yet unfound by rescue services, would be "an unspeakable blow" for their families and highlighted the risks taken by the country's fishermen to serve the coastal industry.
Mr Broughan said this week's tragedy also brought into question the current restrictions on when boats can go to sea, which are in place to preserve fish stocks.
He said the issue needed to be examined as the rules may be forcing fishermen to take unacceptable risks.
However, Fianna Fail Senator Brendan Kenneally told ireland.com: "There was no unacceptable risk".
Mr Kenneally, who has been meeting with some of the families of the fishermen in Dunmore East over the last two days, said the men had got a break in the weather and decided to go herring fishing.
He said all the other boats that went out that day had come back safely and the sinking of the Pere Charles was a "freak freak accident".