UPDATE: WILD Oats XI has crossed the line first in the Sydney to Hobart yacht race for a sixth time and has broken its own race record.
The super-maxi finished in an official time of one day, 18 hours, 23 minutes and 12 seconds.
It set the previous record in 2005 of one day, 18 hours, 40 minutes and 10 seconds.
The line honours win adds to victories in 2005-08 and 2010.
Wild Oats' crew had all but given up on breaking the race record after rounding Tasman Island at 3.30am (AEDT) today.
Westerlies of 10-15 knots late last night replaced the strong northerlies that had powered the boat to a position hours ahead of its record pace.
But, as tactician Iain Murray had predicted, Oats picked up the forecast southwesterlies and increased its speed as it tacked along the River Derwent.
A handful of spectator craft were on hand to escort the Bob Oatley-owned boat to Constitution Dock, where a crowd lined the shore.
Ragamuffin Loyal was the next boat due to finish and was 50 nautical miles behind Wild Oats.
The race's third maxi Lahana was third, another 50nm back.
NSW yacht Jazz led the handicap standings ahead of Calm and Secret Men's Business.
Two boats retired last night, the first casualties of the race, leaving 74 of the fleet still competing.
Last year's handicap runner-up Living Doll pulled out with a broken rudder and was expected in Eden at around midday.
Victorian boat Primitive Cool had quit with a damaged mainsail and was also heading to Eden.
Meanwhile, Ragamuffin's time could be affected by an international jury hearing after the 2011 line honours victor jumped the start in Sydney.
Its crew will front an international jury at 4pm in Hobart.