Authorities have revealed they were bracing for an environmental disaster off far North Queensland last night when a bulk carrier came within metres of striking an outlying reef.

The Hong Kong-registered vessel ID Integrity broke down about 6:00pm (AEST) on Friday night en route to Townsville.

It was feared the vessel was going to run aground at Shark Reef, about 175 nautical miles north-east of Cairns, but it cleared the natural hazard and is now drifting in deep water again.

Engineers have been trying to restart the engines to steer it away from danger.

The Australian Maritime Safety Authority, which is monitoring the situation, says tugboats are also heading to the vessel and hope to meet it later this morning.

Australian Reef Pilots chief executive Simon Meyjes says it could have been a disaster.

"I just feel so incredibly relieved that this was a very close call in this instance, but just sheer good luck," he said.

"It will be a waiting game now as the ship continues to drift westward toward the outer Barrier Reef."

The incident has sparked calls from online activist group GetUp! urging the Federal Government to give up plans to expand mining in Queensland.

GetUp! national director Simon Sheikh says the incident demonstrates how reckless it would be for the Government to increase shipping traffic in the area.

"The incident should be of concern to all Australians. It's more likely to occur in the future as we see more and more ships use the Great Barrier Reef to export coal," he said.

"What's crucial is that proper environmental assessments take place and until that occurs, there'd be no environmental approvals."

The Australian Marine Conservation Society says the near miss with Shark Reef is deeply concerning and is watching closely to see what happens next.

"Until that vessel is safely under tow then I don't think we'll be able to breathe a sigh of relief," spokesman Darren Kindleysides said.

In 2010 the bulk carrier Shen Neng 1 ran aground on the Great Barrier Reef near Gladstone, spilling more than three tonnes of heavy fuel oil.