Finishing Blackwood

I have a blackwood pew which has been sitting in a deep verandah of a Cal Bung home. Despite it being under cover, it still suffers from weathering and water damage. I now want to sand it back and finish it in the most appropriate way. I want something that is reasonably weather resistant. I am considering the following options:

1. Oiling it (maybe Tung or Linseed?)
2. Lacquering it
3. French Polishing (however, I believe Shellac is not suitabe for outdoors?)

Could someone please suggest the best option (or another option)

Thanks,
Richard

I'm making a dresser with Blackwood at the moment and have used Pure Tung oil as the finish (never used it before) and am VERY HAPPY with the results.

Ss, my two cents - go with the Tung oil.