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The race started as a cruise in the years after World War II but gradually became more competitive and commercialised. It is one of the pre-eminent offshore yacht races in the world and attracts maxi-yachts from other countries.
The race has occasionally been subject to loss of life and controversy in recent years when hit by freakish weather conditions and this has resulted in significant safety improvements. While some rail against this imposed regulation, it has to be remembered that the rescue services are morally obliged to risk their lives when sailors are at risk, so safety improvements, though costly and limiting, are necessary for the safety of all. The 1998 race which was a disaster was the subject of a book, "Fatal Storm", by noted sailing commentator, Rob Mundle.
| Year | Overall Winner | Skipper | Time |
|---|---|---|---|
| 1999 | Nicorette | ||
| 1999 | Nokia | ||
| 2002 | Alfa Romeo |
Another Australian offshore race is the Melbourne to Hobart Yacht Race run by the Ocean Racing Club of Victoria known as the West Coaster, This race starts on 27 December, making Hobart a very exciting place on New Year's Eve.