Production Weekly reports that Wolfgang Petersen is setting sail on a remake of the 1972 disaster film The Poseidon Adventure.

Petersen, who's directed The Perfect Storm and Das Boot, will begin filming the shipwreck saga in early May and shoot through September in Los Angeles.

Mark Prtosevich adapted the script based on a Paul Gallico novel which tells the story of a capsized ship whose survivors try to make their way back up through the hull to the surface.

The new movie, which is being eyed as a big-budget tentpole, would be set in the present day and follow a new set of characters as they brave fires, explosions and flooding corridors in their attempt to survive after a tidaly wave flips the S.S. Poseidon.