It was scheduled to take place from December 26 to 31 before it was scrapped.

"We are bitterly disappointed to cancel the race this year especially considering the plans and preparations we had put in place to have a COVID safe race," said CYCA commodore Noel Cornish.

"We were so well-prepared to run the race and we're only days from the start.

"This is the first time in 76 years that the race will not be conducted."

Organisers made the decision based on the safety of competitors and staff, as well as the welfare of the people in the Australian states of New South Wales and Tasmania.

Peter Gutwein, the Tasmanian Premier, announced travel restrictions to the Greater Sydney area meaning that the race could no longer go ahead.

Parts of Sydney are regarded as a "high risk" zone by Tasmania, while the wider Greater Sydney area was defined as "medium risk".

People entering Tasmania from Sydney are required to quarantine for 14 days on arrival, making the chances of the race going ahead impossible.

Business owners have expressed their concerns over the new restrictions with one stating to ABC in Australia that the cancellation of the race has "certainly removed that confidence significantly". 

Plans continue for the 2021 edition of the race, which sees boats cover a distance of 1,170 kilometres to Tasmania's capital.