Patch notes are now available for the 118.7 release, which will be deployed during downtime on Tuesday, August 9th 2016.
The 118.7 release will bring contract functionality to citadels, as well as iterations on the visual damage system, PBR for in space assets, improvements to graphics performance in areas that have clouds and more intutive UI feedback for ship holds.
Check out more information on whats coming on the EVE Updates website and in the patch notes for 118.7 which can be found here.
Information on any additional downtime that might be required for this release will be available in the coming days.