The Pearl Harbor-based Joint Typhoon Warning Center has downgraded the intensity of a new storm system tracking north-northwesterly along the coast of Myanmar, which was devastated by Cyclone Nargis on May 3.

"The potential for the development of a significant tropical cyclone within the next 24 hours is downgraded to poor," the warning center said on its Web site.

The warning center earlier said there was a good chance that a "significant tropical storm" would form and head across the Irrawaddy delta area of Myanmar.