Inspector Cowie said crews would continue their search for Heard until it was no longer viable.
"Obviously significant concerns given the environmental conditions in that area … As long as there's a chance that he is alive it will continue."
Heard's wife has been "distressed" but "very thankful" for the support she has been given during the search, according to Inspector Cowie.
He asked anyone that was in the area to keep an eye out along the coastline and advised people who went fishing in the waters to have safety equipment with them.
Queensland's Department of Environment and Science later issued a statement saying it was "highly likely" he was attacked by a crocodile.
"Departmental experts on the ground have examined the vessel and determined that it is highly likely that a crocodile is involved, however the exact circumstances and sequence of events remain unknown," it read.