Spot freight rates were steady w/w for the 2nd consecutive week post HJS' bankruptcy; longer-term outlook still cautious Coal market consolidation looming Japan: In pursuit of excellence Chinese auto dealers: One exception to sector’s margin concerns China data disappoints Demand up in August on more business days Net gearing surge to outweigh LT capacity upside from asset injection Implications from stricter highway overload control measures A Laggard Play for the PPP Theme China Credit Strategy: The CRM market may develop slowly