Craig Gillespie will direct the pic, which is based on a true story and takes place in 1952, following the Coast Guard as it attempts a dramatic rescue after two oil tankers collide off the coast of Cape Cod.
Stewart will play a sailor aboard the oil tanker.
Jim Whitaker and Dorothy Aufiero are producing.
Stewart was most recently seen in Alcon’s “Transcendence.” He recently wrapped production on the Amazon series “Hysteria.”
He is repped by ICM Partners and attorney David Krintzman.