A year after having victory snatched from its grasp, Wild Oats XI has pulled off a stunning line honours win in the Sydney to Hobart yacht race — but the second placegetter has accused the winners of switching off a locating system, rendering them invisible to opponents.

Key points: Wild Oats XI snatched the lead from Comanche before sunrise and pulled ahead as the pack moved into the River Derwent home stretch

Wild Oats XI snatched the lead from Comanche before sunrise and pulled ahead as the pack moved into the River Derwent home stretch The family-owned super maxi crossed the line first last year, but was handed a one-hour penalty after a near collision with Comanche, which was ultimately awarded 2017 line honours

The family-owned super maxi crossed the line first last year, but was handed a one-hour penalty after a near collision with Comanche, which was ultimately awarded 2017 line honours Black Jack came in 28 minutes behind the leader, followed by Comanche, and InfoTrack

Wild Oats XI seized the lead from Comanche early this morning and held on throughout the tight race up the River Derwent to cross the line first in a time of one day, 19 hours, 7 minutes and 21 seconds.

It is the New South Wales-based super maxi's ninth line honours victory, and comes after one of the closest races in the event's history.

The three other super maxis in the fleet continued towards the finish line together, with very little having separated them the entire race.

But it was Black Jack that claimed runner-up for line honours, 28 minutes after Wild Oats XI with Comanche taking third a minute later and Infotrack fourth (42 minutes behind Wild Oats XI).

Last year, Wild Oats XI also crossed the line first, but a penalty following an incident at the start of the race saw the victory handed to Comanche.

Today, Black Jack owner/skipper Peter Harburg told the ABC his team was "very disadvantaged because [Wild Oats XI] had their automatic identification system switched off and the rules say it's got to be on all the time".

"We didn't know where they were, and they knew where we were all the time, so that has disadvantaged us and Comanche and we are very disappointed in that."

Harburg said the crew of his Queensland-based yacht wanted the race committee to examine the issue but that "it's not our job to protest".

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"If you are going to win the race you should win it according to the rules … it should be fair," he said.

Harburg said it was "a pity that such a great race as this, which has been a close race with all of us changing position all the way down … got bad at the end because someone just doesn't have any regard for the rules".

Race authorities have not confirmed that they will investigate the issue.

'Storm in a teacup'

Wild Oats XI skipper Mark Richards rejected Harburg's claim, saying Black Jack could "do and say what they like".

"[AIS being switched on] is not a mandatory thing … we were in sight of each other the whole race, it was that close," Richards said, describing the accusation as a "storm in a teacup".

"It's a bit disappointing but life goes on."

A spokesperson from the Australian Maritime Safety Authority said there was "no AMSA requirement for these types of vessels to transmit AIS continuously" but that race rules could override that for safety or other reasons.

Sydney to Hobart race regulations state an "AIS transponder shall be carried and be switched on, such that it is receiving and transmitting".

Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. Watch Duration: 32 seconds 32 s Wild Oats XI claims their ninth line honours victory in the 2018 Sydney to Hobart yacht race

In a post on the team's Facebook page, Wild Oats XI said it had been a "tough few years for us", with the team's hopes dashed by early retirements in 2015 and 2016, and the death of owner Bob Oatley in 2016.

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"What a win. We've done it! Never before in the 74-year history of this race have four maxis battled it out like this throughout the race and in the Derwent," the team said.

Mr Oatley's widow Val Oatley described the events leading up to Wild Oats XI crossing the line today as "three years of misery to this moment", with son Sandy Oatley admitting to race media he was "very nervous watching the tracker last night … isn't this a wonderful sight".

Wild Oats XI had earlier said they wished Comanche, Black Jack and InfoTrack "the best as they continue to battle it out behind us".

"We look forward to seeing you on Constitution Dock!"

The team also congratulated skipper Mark Richards and "our extraordinary crew who worked tirelessly to achieve this incredible win".

"It's been a tough few years for us but today we've made history."

Wild Oats XI in the River Derwent during the 2018 Sydney to Hobart yacht race. ( ABC News: David Hudspeth )

As Comanche led the group of four super maxis down the Tasmanian east coast overnight, Wild Oats XI took a more easterly track, swinging in and sailing past the challengers before sunrise.

The move paid off, with the super maxi swinging in and snatching the front as the yachts prepared to round Tasman Island.

Tasmanian-owned yacht Alive is in front for handicap honours.

The paths taken by Wild Oats XI (blue), Black Jack (2nd, red), Comanche (3rd, red) and InfoTrack (yellow) to Hobart, as at 5:45am Friday. ( Rolex Sydney To Hobart )

Crowds gather at the docks to see the first yachts come in. ( ABC News: David Hudspeth )

Black Jack came in second for line honours, 28 minutes behind Wild Oats XI. ( AAP: Mick Tsikas )

Comanche, which successfully protested a tacking move by Wild Oats XI in 2017, finished third in the line honours. ( AP: Rick Rycroft )