Wild Oats XI was closing in on its sixth win and a possible new elapsed time record in the Sydney to Hobart yacht race on Thursday.

The five-time line honors champion was nearly 50 nautical miles (57 miles; 92 kilometers) ahead of fellow super maxi and defending champion Ragamuffin Loyal about 28 hours into the race that began Wednesday in Sydney Harbour.

Lahana was in third place and Black Jack fourth as the leaders ploughed through Bass Strait en route to the island state of Tasmania and its capital city, Hobart.

Wild Oats XI was projected to arrive at Constitution Dock in Hobart early Friday and break its own race record of 1 day, 18 hours, 40 minutes, 10 seconds by up to three hours.

The yacht set the record in the 628-nautical-mile (723-mile; 1,163-kilometer) race in 2005.

"It is certainly something to go for," Wild Oats XI skipper Mark Richards told local media. "It's going to be a great ride. It all depends on what happens with the southerly front at the other end."

All 76 starters were still in the race Thursday.