Icelandic filmmaker and ‘Hobbit’ star eye disaster flick…

‘Contraband’ and ‘2 Guns’ helmer Baltasar Kormakur is in negotiations to direct ‘Cascade,’ a disaster thriller that has Cate Blanchett circling.

Said to be a loose remake of 2003 BBC pseudo-documentary ‘The Day Britain Stopped,’ the film is set after “an oil tanker collision in the Persian Gulf sets off an international crisis.” THR has Blanchett in line for the role of the tanker’s captain.

Ridley Scott, Garrett Basch, Michael Schaefer and Steve Zaillian are all on board to produce, with the script coming from Kieran Fitzgerald (‘The Homesman’).

Kormakur is currently putting the finishing touches to his true-life drama ‘Everest’ starring Jake Gyllenhaal, Josh Brolin and Kiera Knightley, among others.

Blanchett will next grace the big screen with ‘The Hobbit: The Battle of the Five Armies,’ the epic conclusion to Peter Jackson’s ‘Hobbit’ trilogy.