A Master and Commander film, written by Patrick Ness, is in the works.

Back in 2003, Master and Commander: The Far Side of the World getting a new pic. Eighteen years earlier, where Russell Crowe took the lead as Captain Jack Aubrey and took place during the Napoleonic  Wars.  The film was directed by Peter Weir and also starred Paul Bettany. It also received 10 Oscars nominations, even for Best Picture.

Patrick Ness, most known from A Monster Calls, writes the script for the film produced for 20th Century Studios. As the first film was part of a major book series, the new film could be adapting a new book in the novel. This has been an idea for a long time but never happened.  Apparently, this film will showcase a younger Captain Jack Aubrey, and explore the friendship with Stephen Maturin (Paul Bettany). Patrick Ness has also finished the script for a new adaption of Lord of the Flies for Warner Bros. and director Luca Guadagnino. The news is still fresh, so no actors or director is attached to this project.

Source: Deadline.com