Experts involved in the €1 million salvage of two fishing vessels successfully raised the second trawler, the Pere Charles, off Co Wexford last night.
The damaged boat was hoisted to the surface shortly before 6pm, after an operation which lasted more than 30 hours.
Irish Diving Contractors Ltd secured the trawler and transferred it by crane barge to shelter off Dunmore East, Co Waterford, as the weather was forecast to deteriorate.
The company planned to rest the vessel in shallower waters on the seabed, before pumping it out today, stabilising it and lifting it for a thorough examination.
Relatives of the five men who lost their lives when the vessel sank en route to Dunmore East last January expressed relief that the protracted operation had proved successful.
The salvage team, working with a team of 12 highly-trained divers, began by "turn-buckling" the hull which was lying upturned on the seabed.
The salvage operation had begun at midday on Tuesday and the team planned to work throughout Tuesday night, but had to suspend diving at 3.15am when wind began to reach force 5.
Ger Hegarty of the Irish Coast Guard said the strengthening winds resulted in two-metre swells and it was feared that ties holding the dive boat to the crane barge would snap.
In the interests of the divers' safety, it was decided to suspend the operation, he said.
Divers resumed work at 10am yesterday. Both the Pere Charles, and the Maggie B,which was salvaged on Monday, will be delivered to Arklow, Co Wicklow, where the Marine Casualty Investigation Board is to carry out further inspections.
The board had initially said it did not require either trawler for its investigations, but this was questioned by the families of the seven men who lost their lives on the two vessels.
Pat Hennessy, who lost a brother and uncle on the Pere Charles, maintained a vigil on the pier in Dunmore East yesterday.
He was accompanied by Lisa Broderick, fiancee of missing skipper Tom Hennessy, his father Tom and brothers, Tony, Dan and John.
"It's very tough for the families," Mr Hennessy said. "It's very reminiscent of last January when the tragedy happened.
"We were waiting 17 days on the pier and this brings it all back so it's hard, very hard for everyone.
"There's an end in sight anyway. We would be hoping that there are bodies on board," he said.
Five men lost their lives when the Pere Charleswent down on the night of January 10th last.
The bodies of Tom Hennessy (32), his uncle, Pat Hennessy (48), Billy O'Connor (50), Pat Coady (28) and Andriy Dyrin (30) from Ukraine were never recovered.
The Maggie Bsank off the Co Waterford coast in March 2006, with the loss of skipper Glynn Cott (30) and Polish crewman Jan Sankowski (45). Their bodies were also not recovered.