Cyclone Owen may threaten Queensland for a second time and at greater intensity, with the Bureau of Meteorology forecasting it will reform in the Gulf of Carpentaria and head again towards the state’s coastline.

The storm system, now a tropical low, is expected to move steadily westwards in the Gulf during the rest of today before possibly redeveloping into a cyclone later this afternoon or overnight.

“During Wednesday or Thursday, the tropical cyclone is expected to slow down and turn back towards the Queensland coast and may reach Category 3 intensity if conditions remain favourable,” the bureau says.

“A coastal crossing along the southeast Gulf of Carpentaria coast during Friday is most likely.”

Cyclone Owen formed in the Coral Sea a week ago and remained at Category 1 strength before fading to a tropical low and crossing the eastern coast of Queensland near Port Douglas in the early hours of yesterday morning.

The system brought damaging wind gusts and heavy rain as it crossed the Cape York Peninsula before moving into the Gulf last night.

The current warning from the bureau covers areas from Cape Shield in the Northern Territory to Burketown in Queensland, including Groote Eylandt and Mornington Island.

In southern Australia, the bureau is monitoring a low-pressure system that is expected to move into Victoria by late Wednesday, bringing the risk of thunderstorms and heavy rainfalls.

Rainfall totals in Melbourne could range from 20-45mm on Thursday, with further showers and possible storms expected on Friday, the forecaster says.