Antigua and Barbuda flagged general cargo vessel, Thor Commander, reported on Sunday it had damaged its main engine.
The vessel is drifting approximately 31km north-east of Perkins Reef in the Swains Reefs group, about 379km north-east of Gladstone.
AMSA has tasked a tug from Gladstone to respond and two merchant vessels are nearby to assist after responding to a broadcast to shipping in the area.
The tug is expected to arrive on Tuesday morning.
AMSA has directed the owners and Master of Thor Commander under the Protection of the Sea (Powers of Intervention) Act 1981 to accept a tow to prevent it drifting further.
Additionally, a direction was issued to the Master of the Xinfa Hai to engage in a towage operation and hold Thor Commander until the arrival of the tug.
AMSA uses these powers to prevent potential maritime casualties and harm to the marine environment.
Queensland police vessel Lyle M Hoey has also diverted to assist, if required.
AMSA will issue further updates when available.