Massive 7.0 magnitude earthquake strikes off coast of Vanuatu, New Caledonia

New Caledonia and Vanuatu have been cleared of any Tsunami threats after after a 7.0 magnitude earthwuake struck the pacific.

Monday's quake, initially reported as magnitude 7.3, struck at a shallow depth of 10 km about 82 kms east of New Caledonia, and was the second major tremor in the same area in just over 12 hours and the third in the past month.

The Pacific Tsunami Warning Centre said waves as high as one metre above the high-tide mark are forecast to hit New Caledonia and smaller waves are expected in Vanuatu.

“Tsunami waves have been observed,” the agency said.

“Based on all available data, hazardous tsunami waves are forecast for some coasts.

“Tsunami waves reaching 0.3 to 1 metres above the tide level are possible for some coasts of New Caledonia.”

The PTWC warned of "possible" hazardous waves within 300 kilometres of the epicentre, however those fears have since been cleared.

"Government agencies responsible for threatened coastal areas should take action to inform and instruct any coastal populations populations at risk," the PTWC said in an alert.

The warning comes just one day after magnitude 6.4 earthquake struck in the Pacific Ocean, 74km east of the Loyalty Islands, New Caledonia.

Australia and New Zealand do not face any tsunami threats, authorities say.