Joshua, 47, spent around an hour in the Atlantic as severe weather hampered his crewmates’ efforts to get him out of the water.
Mr Aryeetey, who is originally from Ghana, was working on the 100ft Banff-registered Beryl 20 miles from shore when he went overboard on Tuesday.
He was hauled from the water by the crew of a fast rescue boat from oil supply ship the Caledonian Victory then airlifted by Shetland Coastguard helicopter and flown to Gilbert Bain Hospital, Lerwick, where he was pronounced dead.
A police spokesman said that a report on Mr Aryeetey’s death will be submitted to the procurator fiscal.