The new race leader is Sky's Salvatore Puccio, who is riding his debut Giro d'Italia. The young 23-year-old Italian was one of the five Sky riders who crossed the line as one today, and he was highest on the overnight GC.
Top five teams today: 1. Team Sky 22:05, 2. Movistar +9, 3. Astana +14, 4. Katusha +19, 5. Vini Fantini +22.
That's it - Sky have won this time trial in style - and with it they will take the pink jersey.
Omega Pharma-Quick Step have a near-full contingent of riders but this is a very slow team for the pink jersey Mark Cavendish. That's 48 seconds down in 17th place.
Orica-GreenEdge have dug deep but it will matter very little. Luke Durbridge pulls them through the final few hundred metres and they cross the line in 9th place, 28 seconds down on Sky.
BMC are 11th, 37 seconds off Sky. Not ideal for Cadel Evans - although let's be honest, he surely won't find the form to compete with the best in the mountains.
Orica-GreenEdge were 19 seconds down at the first check - they slipped through the net there.
Garmin are rather strung out as they enter the closing stages of this TTT. Not a vintage performance from Jonathan Vaughters' team. They cross the line 25 seconds down on Sky in 5th.
Omega Pharma-Quick Step are 24 seconds down at the first check - so it looks like Cavendish will lose the pink jersey tonight.
RadioShack have eight riders approaching the fnish line - but it's no a great time: 11th, 48 seconds down on Sky.
FDJ finish their effort 55 seconds down on Sky. Laurent Pichon, the first man to crash in this year's race, is there - with his chin covered in bandages.
Garmin, too, struggle to make a big impression at the first check - they're 12 seconds down on Movistar, that's 10 seconds behind Sky.
Not a wonderful time for BMC at the first check: 21 seconds down on the benchmark set by Movistar.
Astana approach the finish with six riders - including pre-race home favourite Vincenzo Nibali. They set the third best time, 14 seconds down on Sky.
Movistar couldn't maintain their form and come home nine seconds down on Sky in second place.
Final team on the road: Omega Pharma-Quick Step roll down the ramp with Mark Cavendish in a full pink skinsuit.
Astana are six seconds down on Sky at the first check. So Wiggins is six seconds up on Nibali.
Not bad for Lampre, all things considered. They're fourth over the finish, just 22 seconds down on Sky.
Shambolic for Euskaltel - they finish with four riders coasting across the line... the clock continues for another 10 seconds until the fifth rider crosses the line. It's the 13th best time, 1:01 behind Sky.
Lampre are on the final climb and they have just four riders after the fifth is dropped. They'll have to slow the pace and wait up...
20 of the 23 teams are on the road now - soon to be 21 with Cadel Evans's BMC atop the ramp.
Androni-Giocatolli cross the line to set the ninth best time, 49 seconds down on Sky.
Garmin-Sharp, the team of defending champion Ryder Hesjedal and British veteran David Millar, are now on the road.
Wow - Movistar roar through the first intermediate check point two seconds quicker than Sky.
Not bad at all for Katusha - they cross the line in second place, 19 seconds down on Sky.
The RadioShack-Leopard team roll down the ramp. If they beat Omega Pharma-Quick Step by 16 seconds or more, then there's a big chance Danilo Hondo will be in pink today. Of course, it's all relative to Sky's performance...
Cannondale approach the finish now. Elia Viviani, second yesterday and wearing the white youth jersey, is one of the five remainding riders for the Italian team. They take fifth, 35 seconds down on Sky.
The Astana team of Vincenzo Nibali get their TTT under way. They will know that Sky have just set the best team and so they will no doubt feel the pressure.
Not a bad effort from Vini Fantini at all - they cross the line just 22 seconds down on Sky to set the second best time. Blanco are currently third, at 28.
Sky will need to beat Omega Pharma-Quick Step by 20 seconds for Cataldo to take pink - and that's discounting performances from other teams such as Garmin, RadioShack and GreenEdge.
Sky set the new benchmark time of 22:05, 28 seconds ahead of Blanco. It's Dario Cataldo who crosses the line first - as expected - so he could well be in pink tonight.
The remaining five Sky riders have just past two Lotto Belisol cast-offs as they enter the final kilometre. Meanwhile, Lampre roll down the ramp at the start...
Lotto Belisol cross the line with six riders to set the 6th best time of 23:05, that's 32 down on Blanco.
Meanwhile, Sky shed another body. It looks like the bearded Xabier Zandio. Sky are down to five men - so they'll need everyone to stay together until the finish. One puncture could ruin everything...
Saxo Bank cross the line to set the third best time at the moment: 22:48. That's 15 seconds down on Blanco. Vacansoleil are down the ramp.
Katusha are down the ramp. It's a shame there's no Joaquim Rodriguez in the race - the Spaniard really lit up last year's Giro, and came so close to beating Ryder Hesjedal for the pink jersey in Milan.
Argos Shimano are a huge 45 seconds off Blanco's time at the finish.
Now Christian Knees is off the back for Sky. He finished yesterday's opening stage almost three minutes down and so may well have been involved in a crash. Must be feeling it today.
Sky zip through the first intermediate check to set the best time of 10:12 - that's 13 seconds quicker than Blanco. Good start for Wiggo's men.
Remarkably, Pate manages to get back on with the rest of his Sky team. They wouldn't have sat up and waited for him - too much at stake - and so that was quite an effort from the American.
Sky have already shed their first man: veteran American Danny Pate is off the back. They must be going fast because Pate's no journeyman.
Robert Gesink's Blanco blast into the lead with a time of 22:33 which comfortably puts them in the lead.
Ag2R-La Mondiale are the new leaders after shaving six seconds off Colombia: 22:55 is the new target time.
Colombia-Coldeportes, the first team to start, cross the line to set the first target time. They climbers from South America come home in a time of 23:01 to set the benchmark.
Despite the speculation, all the teams seem to be using time trial bikes so far. Despite the technicalities and all those climbs and bends, there are still enough straights to merit using the specialist equipment.
Here come one of the stage favourites: the Sky team of Bradley Wiggins roll down the ramp. If they win, they'll hope to put Dario Cataldo in pink this afternoon.
Bardiani Valvole are second quickest at the first intermediate sprint in a time of 10:30.
Colombia have already shed two riders as they tackle the fourth climb on the menu. Remember, the time given for the team is taken when the fifth rider crosses the line.
At the first intermediate checkpoint at Casamicciola Terme, Ag2R set a time of 10:34. That's two seconds quicker than Colombia. Blanco come over much quicker at 10:25.
Bardiani Valvole and Argos Shimano are on the road, while Saxo Bank are currently on the ramp awaiting their start.
It's far from straight-forward for the teams today, with four climbs and countless bends on the 17.4km parcours on the tiny island of Ischia, which is being visited by the race for the first time in 54 years. The course is so short and technical, there's talk that many teams will use road bikes today and not time trial bikes. That remains to be seen...
French team Ag2R-La Mondiale are the second team down the ramp. Their big riders are Domenico Pozzovivo and Carlos Betancur. They're followed by the Blanco team of Robert Gesink, who is due a big race after numerous set-backs in Grand Tours.
We're under way in Ischia! The Colombia-Coldeportes are the first team to roll down the ramp...
Yesterday, Britain's Mark Cavendish won the opening stage of the Giro d'Italia in sunny Naples to take the first maglia rosa of the 96th edition of the race. Omega Pharma-Quick Step's Cavendish came from far back to pip Italian Elia Viviani (Cannondale) and Frenchman Nacer Bouhanni (FDJ) in an explosive bunch sprint in the shadow of Mount Vesuvius. After time bonuses allotted to the top three, Cavendish now holds an 8-second lead over Viviani in the GC with Bouhanni third at 12 seconds.
Welcome to live coverage of stage two of the Giro d'Italia - a highly technical 17.4km team time trial on the island of Ischia which includes several climbs and some tricky bends.