In that case Pignut, very strongly advise a clear preservative coat first, especially on pine. The new pine will make it worth spending more on the coating to save in the long term.
If you want max service, Jotun spirit based preservative, either clear or tinted, then your choice of any top coat. It's the dogs danglies. A paint will last longest on the top. A good exterior hybrid acrylic paint can see 12 years or more before needing a refresher coat. Jotun makes the best, it's a Norweigian firm. I use it all the time at work.
If you want a natural oily finish, Osmo UV oil.
Just as important as the coating is the prep. Sand any wood if it's been exposed to UV for more than 2 weeks, seal up all cracks, quadruple coat end grain . 99% coverage of coating will see the missing 1% ruin it quicktime. Seal that water out, coat it properly and forget about the job for a long time.
Hope this helps.