Captain Nemo Sinks!

The long-gestating “Captain Nemo : 20,000 Leagues Under The Sea”, thought to be sailing comfortably towards its start date, has hit a snag.

According to Variety, Disney has benched the project for the meantime. Director McG (“Terminator Salvation”) has exited the project entirely.

McG, who had been attached to the film since last January will concentrate on other projects that include “Dead Spy Running,” a Warner Bros. drama that Stephen Gaghan is writing; “Terminator 5,” though that movie is on hold indefinitely as the Terminator franchise works its way through bankruptcy court; and a Larry Charles-helmed NBC comedy.

Meanwhile Disney will shift their creative focus to the fourth “Pirates of the Caribbean” movie.

The Bill Marsilli-scripted “Nemo” is an origin story about how Nemo constructed his warship, the Nautilus.

Though Will Smith had been flirting with the project, McG had mentioned Sam Worthington might make for a good ‘Nemo’ too, at one stage.

It’s not the first time McG has been involved in a production that’s gone off-the-rails before it’s even left the station – the director was also onboard a cursed incarnation of “Superman Returns” a couple of years prior to Bryan Singer’s appointment.

In the case of Warner’s “Superman”, it was a combination of script issues, the difficult task of finding a suitable leading man (though McG was said to be favouring Josh Hartnett), and – amusingly enough – McG’s fear-of-flying (considering the pic was due to shoot in Australia, that could be a bit of a problem) that derailed the project.

With “Nemo” also rumoured to shoot in Australia, you’ve got to wonder whether that ol fear-of-flying issue has come up again, hence scaring McG – and in turn, Disney – off this project?