The two crew members of the whitefish boat Valhalla were rescued when their vessel ran aground at West Linga near Whalsay last night.
The alarm was raised around 8pm and the Lerwick lifeboat and the Sumburgh-based coastguard helicopter R 102 were mobilised.
The whitefish boat Renown and many smaller boats also stood by, and the coastguard received several 999 calls about the incident.
The crew were taken off the Valhalla by the emergency craft of the Whalsay Sailing Club, which was in the area. The lifeboat and helicopter were then stood down.
However the lifeboat put a pump on board the vessel, which had sustained a badly damaged hull.
The Valhalla was later towed to Symbister harbour where fire crews pumped her out. No-one was hurt in the incident.