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90s or 2000s Adventure-Fantastic: man travels through sea and reaches weird island

This movie is quite surreal as I know it.

I remember distinctrly the protagonist being on a ship with a young sailor, for which he displays fatherly affection before him falling in the sea during a storm: the sailor returns later as a giant, or monster.
The protagonist then reaches an Island where he meets some sort of woman: maybe a succubus or mage.
It has many parts in common with greek mythology.

Thank you for your time.
asked Jun 26, 2015 in Name That Movie by tombowglue (1 point)
It reminds me somewhat of "The Odyssey" (1997 TV miniseries).

http://www.imdb.com/title/tt0118414/
Thanks for your reply! Unfortunately, story takes place in a somewhat modern ambientation. The Odyssey was clearly an inspiration though!
"7 Adventures of Sinbad" is a modern retelling of some of those stories. Could this be it?
http://www.imdb.com/title/tt1636629/reviews?ref_=tt_urv
It could well be! Still I thought I had seen it much earlier than 2010, so I will have to watch it, somehow, before I flag this as the answer. Thank you!
I can tell now it is not, as the film I'm looking for is a bit older. It amazes me how much there is in common, although I remember the original film as much better
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