However, police were "not actively searching at this stage".
A search was conducted yesterday by police ground staff on the coast, he said, but nothing of note was found. The police Eagle Helicopter had also carried out sweep searches of the area.
"The police helicopter will from time to time carry out a shoreline search when it can, subject to light and weather conditions and the state of the tide," Mr Hughes said.
"The helicopter is better doing a search of the shore at low tide, because it exposes a lot more."
The 74-year-old man was among a group of family and friends out fishing together. The people in the boat that rescued the other man were friends of the missing man and his family.