Mr Morrison, who was well known in the industry, stepped in at the last minute when the Aztec was short of a crewman.
The trawler left port around 10pm on Monday night.
It was fishing about 13 miles south east of the Isle of Man around 11.30 the following morning when Mr Morrison, who lived at Dovecroft in the town, collapsed.
Liverpool coastguard was alerted and they scrambled a rescue helicopter from RAF Valley in Anglesey.
Mr Morrison was flown to Nobles Hospital at Douglas.
His brother-in-law, David Henderson, said: “We are all absolutely devastated.
“James was a hard working boy who looked after his family.
“He had been in the fishing industry for years but lately he had been working at West Coast Sea Products.
“He went to help the boys on the Aztec because they were short of a crew member.
“He would often help out in such situations.”
James leaves his wife, Samantha, two sons by a previous marriage, Daniel and Sean, his mother and father, Wilma and James, and two sisters Tracey and Emma.
