What will be the distance between me and the ship?
Definitely 50m. If you want a more rigorous way, just use trig.
You have a triangle, made by the ruler and your eye, with opposite side length 10cm, and adjacent side length 5cm. That gives an angle of just over 60 degrees (using tan).
Using that same angle, and a triangle with opposite side length 100m, or 10000cm, applying tan gives you an adjacent side length 5000cm, or 50m, exactly.
The ship isn't that far away: you're holding the ruler very close to your eye. Hold the ruler a more realistic distance away, you may get a more realistic answer.